Diagnostic sector to grow by 12%: Care

INDIA'S DIAGNOSTIC SERVICES market is expected to grow at a CAGR (compounded annual growth rate) of 12% over the next five years, reaching $15-16 billion by FY30.The growth will be driven by rising preventive healthcare awareness, demographic shifts, and expanding health insurance coverage, according to a report from CareEdge Ratings.

- MANU KAUSHIK

The ratings agency said that the revenue expansion in the sector is primarily driven by patient volume growth, at a CAGR of 12%, and an increase in the number of test samples, at a CAGR of 17%. “Consolidation and expansion by leading organised players have further supported volume growth, accelerating the sector’s transition towards a more structured and scalable model. Revenue per patient and per test declined from®786 and 233